Ballentine Partners LLC increased its position in Mastercard Incorporated (NYSE:MA) by 18.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,394 shares of the credit services provider’s stock after purchasing an additional 1,495 shares during the quarter. Ballentine Partners LLC’s holdings in Mastercard were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Highstreet Asset Management Inc. boosted its stake in shares of Mastercard by 43.8% in the second quarter. Highstreet Asset Management Inc. now owns 12,098 shares of the credit services provider’s stock valued at $1,470,000 after purchasing an additional 3,684 shares during the period. Allegis Investment Advisors LLC boosted its stake in shares of Mastercard by 6.2% in the second quarter. Allegis Investment Advisors LLC now owns 24,674 shares of the credit services provider’s stock valued at $2,997,000 after purchasing an additional 1,438 shares during the period. Comerica Bank boosted its stake in shares of Mastercard by 4.7% in the second quarter. Comerica Bank now owns 296,182 shares of the credit services provider’s stock valued at $38,362,000 after purchasing an additional 13,359 shares during the period. Legal & General Group Plc boosted its stake in shares of Mastercard by 2.0% in the second quarter. Legal & General Group Plc now owns 4,608,529 shares of the credit services provider’s stock valued at $559,717,000 after purchasing an additional 88,910 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 76.05% of the company’s stock.
MA has been the subject of several analyst reports. Royal Bank Of Canada restated a “top pick” rating and issued a $130.00 target price on shares of Mastercard in a research note on Friday, June 16th. Citigroup Inc. upped their target price on shares of Mastercard from $123.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Mizuho initiated coverage on shares of Mastercard in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $125.00 target price for the company. Zacks Investment Research upgraded shares of Mastercard from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded shares of Mastercard from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-six have assigned a buy rating to the company. Mastercard currently has an average rating of “Buy” and an average target price of $144.18.
In other news, major shareholder Foundation Mastercard sold 87,618 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $126.60, for a total value of $11,092,438.80. Following the sale, the insider now owns 112,736,681 shares in the company, valued at approximately $14,272,463,814.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martina Hundmejean sold 91,107 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $129.79, for a total transaction of $11,824,777.53. Following the completion of the sale, the chief financial officer now owns 170,570 shares in the company, valued at approximately $22,138,280.30. The disclosure for this sale can be found here. Insiders sold a total of 869,668 shares of company stock worth $112,301,656 in the last 90 days. 0.30% of the stock is owned by corporate insiders.
Shares of Mastercard Incorporated (NYSE:MA) opened at 146.74 on Friday. Mastercard Incorporated has a 12-month low of $99.51 and a 12-month high of $148.16. The company has a 50 day moving average of $139.61 and a 200-day moving average of $126.21. The firm has a market cap of $156.26 billion, a PE ratio of 36.41 and a beta of 1.18.
Mastercard (NYSE:MA) last issued its earnings results on Thursday, July 27th. The credit services provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Mastercard had a net margin of 38.30% and a return on equity of 74.92%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Mastercard Incorporated will post $4.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, October 6th will be paid a $0.22 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.88 annualized dividend and a dividend yield of 0.60%. Mastercard’s dividend payout ratio is presently 21.78%.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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